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Asian PTA spot rises marginally
25
Nov '10
The most active PTA contract 1105 at Zhengzhou Commodity Exchange opened at 9700 Yuan / ton on November 24, intraday price rose to the maximum at 9784 Yuan and fell to the minimum at 9594 Yuan and finally closed at 9724 Yuan, up 16 points or 0.16 percent from the previous day.

Asian PX closed at US $1266.50-1267.50 / ton (FOB Korea) and $1281.50 -1282 .50 / ton (CFR Taiwan) on November 23, down $13 from the previous day.

PET bottle chip market continued to weaken in East China, ex-factory prices of domestic plants adjusted to 12300-12500 Yuan / ton, but negotiation focus remained around 12200-12300 Yuan / ton (cash payment), trading atmosphere was still deserted with strong wait-and-see sentiment, market supplies as well as transactions were light.

Staple fiber market conditions stabilized in Zhejiang, mainstream quotations ranged between 17000-17500 Yuan / ton, while discussion focused around 15300-17000 Yuan / ton. Downstream market was covered with a thicker wait-and-see atmosphere and actual transaction was scarce.

Asian spot market of PTA slightly rose in the afternoon, market offers for Taiwan goods were around $1,185 / ton, negotiating level was around $1175-1180/ ton and for goods produced in South Korea, firm offers were light and negotiation level was around $1165-1170 / ton.

PTA market sentiment in East China stabilized, some offers were quoted around 9650 Yuan / ton, sellers were reluctant sellers at low price, mainstream discussion was round 9550-9600 Yuan / ton and firm offers were light.

Fibre2fashion News Desk

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